By Admin 
There is a scheme of the Government of India, by which your money gets doubled very quickly. Actually, there is a Post Office Scheme of the Government of India. Whose name is Kisan Vikas Patra Scheme (Post Office KVP Scheme). This scheme doubles the money deposited by its account holders in 115 months. If you deposit lump sum money in this scheme, you will get interest up to 7.5% on your deposit amount.
What is Post Office KVP Scheme?
This is a post office scheme. Hearing the name Kisan Vikas Patra, you might be feeling that this scheme is only for farmers. but it’s not like that. This is for everyone who wants to double their money without taking any risk. By investing his money in this scheme, the account holder’s deposit doubles in 115 months i.e. 9 years and 7 months. This is a one time investment scheme. With the help of this scheme, the account holder will get interest up to 7.5%. Since it is a Government of India scheme, investment in it is completely safe. The ups and downs of the stock market have no effect on it. The government guarantees returns. You can start with a minimum investment of just ₹1,000. The limit of its maximum amount has not been fixed.
How will the money be doubled?
- Suppose you invested ₹ 10,000 in Kisan Vikas Patra Scheme. According to the annual interest of 7.5% given by the government, you will get ₹ 750 at the end of the first year. Which when added to your original amount of ₹ 10,000 will become ₹ 10,750.
- Now interest is not on ₹ 10,000 in the second year. Rather it will be charged on ₹10,750 because interest of ₹750 has been added. Now by the end of the second year with the help of 7.5% interest you will get approximately ₹ 806. And the principal amount will become ₹11,556.
- Similarly. Every year the total amount of your investment increases. And next year you get interest on that increased amount. Because of this “interest on interest” (compound interest) your original investment of ₹10,000. It will become ₹20,000 (exactly doubled) in 115 months (9 years and 7 months).
How to invest in KVP? (Application Process)
1. Prepare necessary documents
Aadhar Card, PAN Card (required), Passport or Voter ID, Address Proof, Passport Size Photo
2. go to post office or bank
You can find the nearest branch by visiting the India Post website.
3. Fill up the application form
Fill ‘Form A’ and submit all the KYC documents along with it.
4. make payment
Deposit the investment amount through cash, check or demand draft.
5. get certificate
After completion of investigation, you will get the certificate of Kisan Vikas Patra.
Also read: Who is the richest MLA of the country, how many from BJP-Congress in the top 5 list? One has assets worth Rs 3400 crores